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The offices of Deutsche Bank in Frankfurt were raided on Thursday by criminal investigators involved in a major investigation into alleged money laundering.

The investigation is targeted at two Deutsche employees aged 50 and 46, the Frankfurt prosecution office said, without naming the suspects. It also involves other Deutsche employees who have not been identified so far, the authorities added.

About 170 prosecutors, police officers and tax inspectors took part in the raid, which was triggered by documents that were part of the so-called “offshore leaks” and “Panama Papers”, initiatives of the Consortium of Investigative Journalists, of which The Irish Times is a member.

At the core of the investigation is a Deutsche unit based in the British Virgin Islands. In 2016 alone, it dealt with more than 900 clients and processed €311 million, according to the prosecutors.

The Frankfurt prosecution office said an evaluation by Germany’s Federal Criminal